The Bank of England announces its latest interest-rate decision Thursday, with analysts split on whether it will cut for the first time since the Covid pandemic after inflation's retreat.
The US central bank's key lending rate has been at a two-decade high between 5.25 and 5.50 percent for the past year, with policymakers seeking to bring inflation back down toward the bank's long-term target of two percent.
Long-standing ultra-loose policies have made the BoJ an outlier among central banks in recent years and driven down the value of the yen.
The decision comes after the Horn of Africa country broke with decades of managing the birr, a move that unlocked long-negotiated funding with international lenders including the International Monetary Fund.
Consumer price increases in the single currency area reached 2.6 percent in July, up from a 2.5-percent rate in June, the EU's statistics agency said, higher than experts' forecast.
South African Reserve Bank (SARB) Governor Lesetja Kganyago explained that restrictive monetary policies and improvements in supply chains have helped reduce inflation from its 2022 highs.
Reeves, appointed to the role following the center-left Labour party's landslide election victory on July 4, will tell MPs the previous Conservative government "overspent this year's budgets by billions of pounds".
The National Bank of Ethiopia announced a series of foreign exchange reforms which it said involved "significant new policy changes".
Group Chief Executive of Transnet Michelle Phillips appreciated the African Development Bank's support, adding that the loan given by the bank will make a huge contribution to Transnet's capital investment plan to stabilize and improve the rail network.
The one-year LPR, which constitutes the benchmark for the most advantageous rates that banks can offer to businesses and households, was cut from 3.45 percent to 3.35 percent. This rate had already been lowered in August 2023.
Beijing is battling an unprecedented crisis in the country's vast real estate sector, continued weak consumption and a high youth unemployment rate, while geopolitical tensions with Washington and the European Union threaten its foreign trade.
But the core Consumer Price Index (CPI) reading, which excludes volatile fresh food prices, was still softer than market expectations of a 2.7 percent increase.
All eyes were on how this week's Third Plenum of the Communist Party in Beijing, attended by President Xi Jinping, might tackle the deepening economic malaise.
While the central bank has focused largely on inflation -- which surged in the wake of the pandemic -- it is now also closely monitoring its mandate of promoting maximum employment, Powell added.
Chinese authorities on Monday said the country's economy had expanded by just 4.7 percent in the second quarter, some of its slowest progress in years and a sign that official efforts to revive growth were not working.
President Cyril Ramaphosa led the first Lekgotla of the Government of National Unity (GNU), outlining the action plan for the government's seventh administration.
The world's second-largest economy is grappling with a real estate debt crisis, weakening consumption, and an ageing population.
The Paris-based body that advises industrial nations on energy policy said oil demand increased by just 710,000 barrels per day in the second quarter, the slowest rate in over a year.
The US central bank has held interest rates at a two-decade high for almost a year as it looks to bring inflation down to its long-term two percent target without doing too much damage to either the labor market or the broader economy.
Consumer prices have remained stubbornly above the ECB's two-percent target, although the return to easing inflation will no doubt be welcomed by officials.
Keir Starmer, whose Labour party is tipped to win the vote on Thursday, has ruled out returning Britain to the European single market, customs union, or bringing back free movement of EU nationals.
Chinese policymakers have struggled to reignite growth since the end of strict Covid-19 pandemic health curbs in late 2022. The world's second-largest economy is beset by a debt crisis in the property sector, persistently low consumption and high youth unemployment.
President Javier Milei, who took office in December, stopped all new public works projects as part of his drive to slash spending, and the construction sector was down 19 percent, data showed.
The Consumer Price Index (CPI) -- which excludes volatile fresh food prices -- rose 2.5 percent year-on-year, compared with the 2.2 percent logged in April by the internal affairs ministry.
The BoE was widely forecast to keep its cost of borrowing at 5.25 percent, a 16-year high, following a regular monetary policy meeting.
A self-declared "anarcho-capitalist," Milei has vowed to halt Argentina's economic decline and reduce the budget deficit to zero, and has embarked on a program to slash public spending and bring down inflation, which remains at an annual rate of more than 275 percent.
The zero growth in April followed an expansion of 0.4 percent in March, according to the Office for National Statistics.
The May headline consumer inflation rate is expected to be little changed from a month earlier, according to the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal.
After an unprecedented streak of eurozone rate hikes beginning in mid-2022 to tame runaway energy and food costs, inflation has been slowly coming down towards the ECB's two-percent target.
The busy work at the site in Germany is a rare sign of activity in an industry holding out for a fall in interest rates to get back on its feet.
